• Asian-Australasian Journal of Animal Sciences
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• 제22권12호
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• pp.1693-1702
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• 2009

Economic values of 14 production and functional traits for two Slovak dairy sheep breeds (Improved Valachian and Tsigai) were calculated. Semi-extensive production systems with one lambing per year were simulated using a bio-economic deterministic computer model. The marginal economic value of a trait was defined as the partial derivative of the profit function with respect to that trait. The relative economic value expressed the percentage proportion of standardized economic value (marginal economic value${\times}$genetic standard deviation) of a trait in the sum of the absolute values of the standardized economic values over all traits. Milk yield was of highest relative importance (26% and 32% in Improved Valachian and Tsigai) followed by productive lifetime and conception rate of ewes (16% and 15% in Improved Valachian and Tsigai, in both traits). Conception rate of female lambs and litter size had nearly the same relative economic importance in both breeds (9% to 11%). Survival rate of lambs at lambing and till weaning reached slightly lower economic values (4% to 7%). The economic importance of all remaining traits was less than 4%.

• Korean Journal of Agricultural Science
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• 제43권3호
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• pp.481-495
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• 2016

Lily, which is one of Korea's main flower exports, is one of the most important agricultural product in the country. Korean lily farmers have difficulty earning more profit from producing lilies, because of the high cost of lily bulbs. Most lily bulbs used in Korea are imported from the Netherlands. Thus, the Korean government has kept trying to supply more and better Korean lily bulbs. However, many experts have questioned the efficiency and economic value of the Korean lily production system. The purpose of this paper is to analyze the economic value of the production of lily bulbs in Korea. Especially, this study evaluates the economic value of the production systems of Korean lily bulbs and compares the results from several cases. The results of the present study presents some useful findings, as follows: first, two Korean production areas (Gangneung and Jeju) show a positive economic value but one Korean production area (Taean) presents problems causing a negative economic value. Second, the Korean production area in Vietnam currently has trouble in the view of economic value but will likely overcome that problem. Third, the production area in the Netherlands shows the best economic value. Thus, Korean lily bulb producers need to benchmark that system.

• The Journal of Fisheries Business Administration
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• 제43권3호
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• pp.23-30
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• 2012

This study aimed to analyze the economic feasibility of Mackerel offshore aquaculture production performance in Jeju region, Korea. Based on the collected biological, costs and market price data, farming revenue and expenses during the farming period were evaluated, and the net present value and the internal rate of return of a 10-year cash inflow and cash outflow were estimated to determine the economic feasibility of Mackerel offshore aquaculture production system. Model results indicated that the Mackerel offshore aquaculture production performance would have high profitability under the current production and market situation. This is because of the relatively high survival rate, relatively low feed conversion ratio and good market prices. However, sensitivity analyses of main important biological and economic variables showed that the economic viability of Mackerel offshore aquaculture production system would be highly vulnerable to production and market condition changes.

• Journal of Korean Institute of Industrial Engineers
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• 제40권3호
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• pp.313-320
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• 2014

We consider the problem to find economic inventory quantity of a single commodity under stochastic demands and order cancellation. In contrast to the traditional economic production quantity (EPQ) model, we assume that once the amount of inventory reaches to a predetermined level of quantity then the production is not halted but its production speed decreases until the inventory level drops to zero. We establish two probabilistic models representing the behaviors of both the high-production period and low-production period, respectively, and derive the relationship between the level of inventory and costs of production, cancellation, and holding, from which the quantity of economic inventory is obtained.

• Transactions of the Korean Society of Machine Tool Engineers
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• 제15권3호
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• pp.97-103
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• 2006

The development of a heat exchanger production model based on the microlamination technology and it's economic efficiency is addressed. A microchannel production model is proposed for the high-volume production. The microlamination system is made up of lamina patterning, laminae sorting and laminae bonding. A cost estimation model is developed based on the hewn cycle time and capital equipment costs. An economic efficiency analysis is performed to determine the cost drivers under the different market and product scenarios. The result of the economic efficiency analysis indicated that the device size and the production rate have a great effect on the overall manufacturing cost of microlamination devices. And it can be concluded that the microlamination should focus on bonding larger laminae and reducing both cycle time and warpage.

• Korean Journal of Organic Agriculture
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• 제14권3호
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• pp.237-249
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• 2006

The objective of this paper was to evaluate economic feasibility of biodiesel production. Biodiesel is a diesel-fuel replacement produced from domestic renewable resources such as vegetable oils. This paper deals mainly with the income and cost data to analyze economic feasibility of biodiesel. The income of a rape farmer for biodiesel was 206,894won/10a, and it's similar to barley income. In addition a rape production for biodiesel have ancillary effect. Therefore we have to use direct payment for encouraging the production and use of biodiesel.

• Journal of Hydrogen and New Energy
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• 제22권4호
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• pp.559-567
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• 2011

This paper deals with an economic evaluation of domestic low-temperature water electrolysis hydrogen production. We evaluate the economic feasibility of on-site hydrogen fueling stations with the hydrogen production capacity of 30 $Nm^3/hr$ by the alkaline and the polymer electrolyte membrane water electrolysis. The hydrogen production prices of the alkaline water electrolysis, the polymer electrolyte membrane water electrolysis, and the steam methane reforming hydrogen fueling stations with the hydrogen production capacity of 30 $Nm^3/hr$ were estimated as 18,403 $won/kgH_2$, 22,945 $won/kgH_2$, 21,412 $won/kgH_2$, respectively. Domestic alkaline water electrolysis hydrogen production is evaluated as economical for small on-site hydrogen fueling stations, and we need to further study the economic evaluation of low-temperature water electrolysis hydrogen production for medium and large scale on-site hydrogen fueling stations.

• KDI Journal of Economic Policy
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• 제39권4호
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• pp.25-50
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• 2017

Whereas a large variety of previous studies show mixed results regarding the relationship between public investment and economic outcome, several studies have been conducted on related issues in Korea. The present study deals with the effect of public investment in Korea on economic growth and productivity. Using administrative data, it exploits three different methodologies: the total factor productivity approach, production function approach, and stochastic frontier production function approach. The results of this study show that public investment has a statistically significant effect on economic growth. However, it contributes little to enhance productivity. It is explained that there exists inefficiency of production in the Korean economy. These findings indicate that public investment has played a central role in the direct input factor and not in indirect role in Korea. Thus, it is necessary for public investment policies to concentrate on enhancing the efficiency of the Korean economy.

• Asian-Australasian Journal of Animal Sciences
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• 제22권2호
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• pp.216-224
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• 2009

In Japan, since rice consumption has been decreasing with the westernization of Japanese eating habits, surplus paddy fields have been increasing. If these surplus paddy fields can be utilized for forage rice production as feed for animal production and excretions (feces and urine) from animal production can be applied to the paddy fields as manure, then the problems of surplus paddy fields and excretions from animal production may be solved, and the environment kept sustainable. The objectives of the present study were to apply a bio-economic model to dairy and forage rice integration systems in Japan and to examine the merit of introducing whole crop rice silage (WCRS), as well as economic and environmental effects of various economic and management options in the systems. Five simulations were conducted using this model. The use of WCRS as a home-grown feed increased environmental loads and decreased economic benefit because of the higher amount of purchased feed, when compared to the use of typical crops such as maize, alfalfa and timothy silage (simulation 1). Higher economic benefits from higher forage rice yields and higher milk production of a dairy cow were obtained (simulations 2, 3). There were no economic and environmental incentives for utilizing crude protein (CP) rich WCRS, because an increase in the CP content in WCRS led to the use of more chemical fertilizers, resulting in high production costs and nitrogen outputs (simulation 4). When evaluated under the situation of a fixed herd size, increasing forage rice yields decreased the total benefit of the production, in spite of the fact that the amount of subsidies per unit of land increased (simulation 5). It was indicated that excess subsidy support may not promote yield of forage rice. It was, however, observed in most cases that dairy and forage rice integration systems could not be economically established without subsidies.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 대한산업공학회/한국경영과학회 1990년도 춘계공동학술대회논문집; 한국과학기술원; 28 Apr. 1990
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• pp.335-343
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• 1990

The traditional economic evaluation methods do not seem to consider derivative efforts-productivity improvement, quality improvement.-which may be occured by AMS introduction. Current evaluation methods are based on mass production with known characteristic and stable technology. Recently, expert suggest that these assumption-stable production and mass production-are realized to be a limited in substantial economic evaluation analysis. Therefore, the problem of traditional evaluation methods suggested in this thesis and decision in the case studies are derived using two complementary economic analysis methods-AHP method, modified economic evaluation model- and traditional evaluation method. After three methods are compared and evaluated in the view of practical economic evaluation, AHP method is intended to be introduced as a new economic evaluation method.